Get Your Head Right To Get Past ‘The Dip’
From Craig Fuhr, The Fix & Flip Artiste …
This post comes directly from a few 1-on-1 calls I’ve had recently with several of my mentoring students. So as not to offend the innocent, I will make no mention of their names. But if I’m being honest, I could list the names of most any investor – as most of us will struggle at some point in our investing careers with the exact same issues.
Sticking to It. Persistence. Getting Past ‘The Dip.’
Maybe you have a friend or family member who has had success as a real estate investor. Maybe you saw a late night commercial or attended a seminar. Maybe you found Clever Investor or Cody Sperber while surfing your Facebook timeline.
Then it hits you… like a 2-ton lead brick and you say to yourself:
“NOW is the time. NOW is MY time. I’m going to follow my dreams. I’m going to crush this – and I’m going to be a real estate investor.”
And in that very lucid and immensely powerful moment you could walk barefoot over 100 yards of white-hot embers because you are completely convinced and convicted in your decision. Nothing can stop you! Nothing!
You’re all in… then what?
What happens to so many of us from the moment we sign up and begin our new and exciting journeys… just like 3 weeks later? How does the momentum train jump the tracks so damn quickly? What happens to that person who walked through hot coals to reach their dreams?
Life Gets in the Way of Your Dreams.
For some, life happens. It’s sad but true. All of us have bills to pay, kids to feed and clothe, groceries to buy. All of us have real lives to live while trying to achieve our dreams.
Life does get in the way of our dreams, but if you understand that going in, your derailment will be a temporary blip on the radar rather than a dream-killing crash!
Prepare yourself for real life while reaching for your dreams. Even better – think of all of life’s hurdles that could get in your way, then WISH for a few of them to happen so you can prove to yourself that you are a “Dream Warrior” who can’t be stopped by life’s little curveballs!
Car engine blows up? No problem. Your boss cuts your hours? Awesome! That’s more time to work on real estate! Illness in the family? That’s your chance to show your family members how you’re the glue that holds the family together!
Mistaking Action for Real Results.
I see this time and time again. A newbie jumps into the game full of piss-and-vinegar.
Beating his chest he proudly exclaims, “I set up my LLC, got a new logo for my company, set up my email, found a printing company for my postcards, I’m about to order 500 bandit signs, and I even got a sweet tattoo of a house on my leg with the word “Steadfast,” under it!
Then he proudly boasts, “All of this only took me 7 weeks. I’m KILLING IT, Craig!”
You laugh. You’re probably thinking, “What a putz! I’d never do that!”
I’m here to tell you, you absolutely would. Well, maybe not the “house tattoo on your leg” part. But, this is a common newbie mistake that derails even the most promising student.
The lesson here is that a flurry of activity does not equal results. Just because you’re busy – that does not mean you’re achieving results.
Newbies get super frustrated when they look at the calendar and see that they’ve been working like slaves for months to reach their dreams, but have no money in their bank accounts to show for it. This is where the train jumps the track!
To combat this I want to introduce you to a short (only 76 pages) but extremely powerful book called The Dip by Seth Godin. Godin is a brilliant marketer, entrepreneur and motivational speaker. The subtitle to The Dip is, “A Little Book That Teaches You When to Quit (and When to Stick).”
There are so many brilliant Godin quotes in the book, but one of my favorites is:
“Never quit something with great long-term potential just because you can’t deal with the stress of the moment.”
Don’t Quit until It’s Time to Quit.
Every entrepreneur goes through The Dip. Every new business man or woman does battle with the “Demons of Self-Doubt.”
You have to prepare yourself; I mean literally arm yourself with this knowledge going in to your new venture so that when you’re cruising down the first cliff of The Dip, you don’t allow yourself to fall off!
Take a look at the illustration above. Look at #1 and ask yourself if that sounds like you, “The Giddy Newbie, who is ready to walk through those burning hot embers.” You have no idea what you’re doing, but you’ve got a dream!
Then life shoots you a curveball as you’re trying so hard to stay on track. Just as you’re about to get “We Buy Houses” buzzed into your skull, you get laid off from your job. You quietly say to yourself, “Dammit, God….why me? Why do I think I can work and be a successful real estate investor? This is too hard.” That’s #2.
At #3, your thoughts are starting to overpower the dream. You’re working your ass off, sending out mailers, making phone calls to motivated sellers and building your network. You’re walking the walk, but that once small voice is now screaming at you, “What the HELL am I doing this for? This real estate thing works for everyone BUT me!”
At this point, most go the route of #4 and give up. Most quit before it was their time to quit. For many, quitting at this point is perhaps the biggest mistake of their lives – because they don’t know just how close they were to winning!
Look how short that trough is just after you’re having your “Crisis of Meaning.” Look how short you have to live in that space. If you’re working hard, staying focused on the picture and truly working each day on actions that will produce results, your time at the bottom of #3 is merely a stepping stone. It’s a springboard to your ultimate success.
As you start back up the hill, this is when you start to experience the fruits of your labor. This is when the fuzzy, confusing topics you’ve worked so hard to master give way to great clarity. This is the time when you may even get your first deal and payday. Armed with “Informed Optimism,” you’re now sitting on the launch pad strapped to a rocket that is about to blast off!
Power through stages 1-4. Don’t give up on your real estate dreams. Understand that even the most successful veterans before you also went through stages 1-4, before hitting stage 5.
P.S. Need a mentor?
I Wanna Hear from You
A good mentor is your best defense against stages 1-4. Success in this business is often a direct result of being held accountable. My students have thanked me time after time for helping them get to stage 5. Perhaps you’d like my help as well. I’d love to hear from you in the comments section below.